Lawsuit Alleges Manipulation of Precious Metals Benchmark
The Wall Street Journal, The Financial Times, Reuters, Bloomberg, Law360, Global Competition Review
November 26, 2014
Gregory Asciolla discusses nefarious behavior by entities in the price-fixing of platinum and palladium
In the first class action filed alleging massive platinum and palladium price-fixing conspiracy by Goldman Sachs, HSBC, Standard Bank, and BASF, Labaton Sucharow partner and co-chair of the Antitrust and Competition Practice, Gregory Asciolla, spoke to the media discussing the Firm's complaint.
"This new case involving price manipulation in the platinum and palladium markets demonstrates that the global benchmark manipulation scandals are far from over," Greg said. "Businesses and investors were injured by an eight-year long global conspiracy run by these commodities dealers."
As the lead attorney on the case, he commented, "We really found strong evidence of anomalous pricing behavior that couldn't be explained in any other way apart from manipulation."